Independence Gold Corp Stock Market Value
| IGO Stock | CAD 0.18 0.01 5.88% |
| Symbol | Independence |
Independence Gold Corp Price To Book Ratio
Independence Gold 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Independence Gold's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Independence Gold.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Independence Gold on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Independence Gold Corp or generate 0.0% return on investment in Independence Gold over 90 days. Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in North Am... More
Independence Gold Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Independence Gold's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Independence Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 26.79 | |||
| Value At Risk | (5.88) | |||
| Potential Upside | 6.25 |
Independence Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Independence Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Independence Gold's standard deviation. In reality, there are many statistical measures that can use Independence Gold historical prices to predict the future Independence Gold's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | 0.2691 | |||
| Treynor Ratio | (0.41) |
Independence Gold Corp Backtested Returns
Independence Gold Corp holds Efficiency (Sharpe) Ratio of -0.0551, which attests that the entity had a -0.0551 % return per unit of risk over the last 3 months. Independence Gold Corp exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Independence Gold's Standard Deviation of 4.42, risk adjusted performance of (0.05), and Market Risk Adjusted Performance of (0.40) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.69, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Independence Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Independence Gold is expected to be smaller as well. At this point, Independence Gold Corp has a negative expected return of -0.24%. Please make sure to check out Independence Gold's total risk alpha and the relationship between the potential upside and market facilitation index , to decide if Independence Gold Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.38 |
Poor reverse predictability
Independence Gold Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Independence Gold time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Independence Gold Corp price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Independence Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Independence Gold Corp lagged returns against current returns
Autocorrelation, which is Independence Gold stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Independence Gold's stock expected returns. We can calculate the autocorrelation of Independence Gold returns to help us make a trade decision. For example, suppose you find that Independence Gold has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Independence Gold regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Independence Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Independence Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Independence Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Independence Gold Lagged Returns
When evaluating Independence Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Independence Gold stock have on its future price. Independence Gold autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Independence Gold autocorrelation shows the relationship between Independence Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Independence Gold Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Independence Stock Analysis
When running Independence Gold's price analysis, check to measure Independence Gold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Independence Gold is operating at the current time. Most of Independence Gold's value examination focuses on studying past and present price action to predict the probability of Independence Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Independence Gold's price. Additionally, you may evaluate how the addition of Independence Gold to your portfolios can decrease your overall portfolio volatility.